| PNB reaches out to you with fast, friendly and most convenient
home loans for:
 |
Construction
or purchase of house/ flat. |
|
Purchase of house/ flat on First Power of Attorney
basis from the original allottee. |
|
Carrying out
repairs/ renovations/ additions/ alterations to
existing house/ flat. |
| |
Special
Feature- To cover the loan outstanding, life Insurance
cover is also available on payment of one time
premium which can also be financed by the Bank.
|
| Extent of loan |
|
 |
Individual
For construction/purchase of house/flat:- 75% of the cost
of construction of house or purchase of house/flat. Cost
of car parking upto the maximum extent of 5% of the cost
of flat/house can also be included in the cost of the
project.
For
carrying out repairs/ renovations/ additions/ alterations:
- 75% of the estimated cost subject to maximum of Rs.
20 lacs.
Loan upto Rs. 20 lacs for purchase of Land/ Plot.
Loan is available maximum upto Rs. 2 lacs for furnishing
| Security |
|
|
|
Mortgage of
property for which finance is being given.
|
|
In
case of purchase of house/ flat from housing board/
society where mortgage cannot be created immediately,
a tripartite agreement shall be executed amongst
the housing board/ society, borrower and the Bank. |
|
In case of
purchase of house/ flat on first power of attorney,
additional security equal to 125% of the loan
amount by way of mortgage of some other property
or pledge of bank's FDR/ LIC policy/ Govt. Securities,
NSCs, KVPs, IVPs, / PSU Bonds etc. has to be provided.
|
| Rate of Interest |
|
|
| For
repayment period |
Fixed
Option for loans(Upto 20
lac) |
Fixed
Option for loans(Above 20
lac) |
Floating
Option for
loans(Upto 20
lac) |
Floating
Option for
loans(Above 20
lac) |
| i)
Upto 5 years |
9.25 |
10.00 |
8.75 |
9.50 |
| ii)
Above 5 & upto 10 years |
10.00 |
10.25 |
9.00 |
9.50 |
| iii)
Above 10 & upto 20 years |
10.50 |
10.75 |
9.25 |
9.75 |
| iv)
Above 20 yrs & upto 25 yrs. |
10.75 |
11.00 |
9.50 |
10.00 |
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here for more details
| Upfront Fee |
|
|
For
loans upto Rs. 300 lacs = 0.50% of the loan amount with
a cap of Rs. 20,000/-
For loans above Rs. 300 lacs =0.90% of the loan amount
| Documentation Charges |
|
|
Rs.1,350/- + Service
Tax & Education Cess
| Repayment |
|
|
1. Loan is to be repaid in equated monthly installments
within a period of 25 years or before the borrower attains
the age of 65 years.
2.
Repayment of loan for repair/ renovation/ addition/alteration
has , however been restricted to 10 years.
| Pre- Payment charges |
|
|
Nil- In cases where the loans are
prepaid by the borrower from their own sources
Nil- In cases where the borrower shifts to other bank
within 30 days from the date of issuance of circular for
upward revision in the rate of interest to be charged
in his account or change in other terms of sanction.
2 % - In cases where the account is taken
over by some other Bank/ Financial institutions by way
of availment of loan from such bank/ financial Institutes.
| Disbursement |
|
|
|
For outright
purchase of house/ flat, the loan amount will
be paid in lumpsum to the vendor. |
|
For
house/ flat under construction, the loan amount
will be disbursed in stages as per progress of construction/
demand by selling agency.
|
|
